Co-operative Bank Approved for Banking Ombudsman Scheme

MEDIA RELEASE

26 October, 2011

Co-operative Bank Approved as Member of Banking Ombudsman Scheme

The Office of the Banking Ombudsman has today announced that The Co-operative Bank has been approved as a member of the Banking Ombudsman Scheme.

“Now that the former PSIS has been granted a banking licence, it has chosen to join the Banking Ombudsman Scheme”, Banking Ombudsman Deborah Battell said.

“Membership is not automatic, however. To be eligible to join the Banking Ombudsman Scheme, financial service providers must have a minimum independent credit rating of BB, and must be able to demonstrate a strong customer ethic, including high quality handling of complaints”.

“The Co-operative Bank achieved this and we are delighted to have the Bank on board.”

“We have also recently welcomed The Bank of India, and we are looking forward to working with both banks in our quest to continually raise banking standards in New Zealand and ensure that all customers get a fair hearing,” Ms Battell added.

ENDS

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